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Glencore
(LSE:GLEN)
Glencore (GLEN) vs. iShares MSCI United Kingdom ETF (EWC)
Glencore Business Overview & Revenue Model
Glencore Earnings Call Summary
Glencore Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 231.25B | 230.94B | 217.83B | 255.98B | 203.75B | 142.34B |
| Gross Profit | 5.76B | 6.28B | 10.78B | 27.26B | 12.38B | 3.70B |
| EBITDA | 9.15B | 9.85B | 15.32B | 32.23B | 16.03B | 3.13B |
| Net Income | -2.06B | -1.63B | 4.28B | 17.32B | 4.97B | -1.90B |
Balance Sheet | ||||||
| Total Assets | 132.18B | 130.46B | 123.87B | 132.58B | 127.51B | 118.00B |
| Cash, Cash Equivalents and Short-Term Investments | 2.70B | 2.17B | 1.95B | 1.97B | 2.69B | 1.42B |
| Total Debt | 42.34B | 38.11B | 32.24B | 28.78B | 34.64B | 37.48B |
| Total Liabilities | 99.39B | 94.80B | 85.63B | 87.36B | 90.59B | 83.60B |
| Stockholders Equity | 37.83B | 40.67B | 43.58B | 49.41B | 39.93B | 37.64B |
Cash Flow | ||||||
| Free Cash Flow | 143.00M | 4.44B | 6.55B | 9.48B | 5.24B | -905.00M |
| Operating Cash Flow | 6.06B | 10.05B | 11.04B | 13.66B | 8.86B | 2.66B |
| Investing Cash Flow | -12.39B | -11.72B | -3.56B | -1.72B | -541.00M | -2.71B |
| Financing Cash Flow | 6.20B | 2.14B | -7.49B | -13.20B | -6.52B | -320.00M |
Glencore Technical Analysis
Glencore Risk Analysis
Glencore Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | £101.74B | 12.28 | 18.43% | 4.75% | -3.50% | -7.04% | |
68 Neutral | £52.99B | -34.50 | -5.26% | 1.89% | -1.06% | -285.88% | |
66 Neutral | $34.71B | -10.03 | -9.21% | 0.80% | -27.65% | -160.77% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | £834.77M | -17.59 | -27.65% | ― | ― | 1.86% | |
48 Neutral | £77.68M | -21.61 | -17.14% | ― | ― | 54.72% | |
48 Neutral | £117.99M | ― | ― | ― | ― | ― |
Glencore Corporate Events
Glencore has confirmed that it is in preliminary talks with mining rival Rio Tinto over a potential combination of some or all of their businesses, which could include an all-share merger structured as a court-sanctioned scheme of arrangement under which Rio Tinto would acquire Glencore. The company stressed there is no certainty that any transaction will be agreed, nor clarity yet on its possible terms or structure, though the UK Takeover Code imposes a deadline of 5 February 2026 for Rio Tinto to either announce a firm offer or walk away, focusing market attention on the coming weeks and triggering disclosure obligations for shareholders with significant positions in either group.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £480.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc has repurchased 8.4 million of its own ordinary shares off-market from UBS AG on 8 January 2026 as part of its ongoing share buyback programme that began in July 2025. The shares, bought in Swiss francs with Swiss withholding tax deducted from the gross price, are being acquired for cancellation, reducing the number of shares in issue to 11.74 billion, while treasury shares remain unchanged at about 1.27 billion. The transaction, conducted under a pre-approved off-market buyback authority and a shareholder-approved buyback contract with UBS, underlines Glencore’s continued capital-return strategy ahead of its full-year 2025 results expected in February 2026, and may enhance earnings per share and support the stock by shrinking the free float. UBS’s related on-market trades, executed under EU market abuse rules, may not match exactly the number of shares Glencore ultimately buys for cancellation due to UBS’s mandate to manage its equity exposure under the contract.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £480.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore has disclosed that as of 31 December 2025 its issued share capital comprised 13,011,864,600 ordinary shares, of which 1,268,109,041 were held in treasury, leaving 11,743,755,559 voting rights in issue. The company noted that this voting-rights figure will serve as the reference denominator for shareholders assessing whether they must report holdings or changes in holdings under the UK Financial Conduct Authority’s disclosure and transparency regime, providing clarity for investors and governance stakeholders on the mining and trading group’s current capital and voting structure.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £480.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore has continued executing its share buyback strategy with an off‑market purchase of 6.4 million ordinary shares from UBS AG on 19 December 2025, paying a gross price of CHF 4.0829 per share, with Swiss withholding tax applied and remitted to the authorities. The shares are being acquired for cancellation under the company’s ongoing buyback programme, which started in July 2025 and is scheduled to conclude around the release of its 2025 results in February 2026, and will reduce the number of shares in issue to about 11.74 billion while leaving treasury holdings unchanged, supporting capital returns and potentially enhancing earnings per share for remaining investors.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £480.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc has announced a transaction involving the purchase of 7,861,295 of its own ordinary shares from UBS AG, as part of its ongoing share buy-back program initiated in July 2025. This transaction, conducted off-market, is set to reduce the company’s total shares in issue, excluding treasury shares, to 11,750,155,559, and is aligned with the company’s strategy to manage its equity exposure and shareholder value, with completion expected by February 2026.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £430.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore has announced its corporate calendar for 2026, detailing key dates for investors including production reports, annual results, and the annual general meeting. These scheduled events are crucial for stakeholders to track the company’s performance and strategic direction, impacting its market positioning and operational transparency.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £4.50 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced the purchase of 6.4 million of its own shares from UBS AG as part of its ongoing share buy-back program. This transaction, executed off-market, aims to reduce the number of shares in circulation, thereby potentially increasing the value of remaining shares and reflecting the company’s commitment to returning value to shareholders. The buy-back program is expected to conclude by February 2026, aligning with the release of the company’s financial results for 2025.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £414.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore has announced significant advancements in its copper portfolio, aiming to produce approximately 1 million tonnes by 2028 and targeting 1.6 million tonnes by 2035. The company plans to restart the Alumbrera copper mine, enhancing its production capabilities and supporting its strategic growth in the copper sector. Additionally, Glencore is optimizing its operating structures to ensure accountability and reliability, while continuing to focus on shareholder value through strategic partnerships and investments. The company’s efforts align with the growing global demand for commodities driven by AI infrastructure and energy transition needs, positioning Glencore as a leading player in the natural resource industry.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £4.40 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced it will host a Capital Markets Day presentation, providing stakeholders with insights into its operations and strategic direction. This event underscores Glencore’s commitment to transparency and engagement with investors and the public, potentially impacting its market positioning and stakeholder relationships.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £4.40 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore has announced its total voting rights as of November 28, 2025, with an issued share capital consisting of over 13 billion ordinary shares, of which approximately 1.27 billion are held in treasury. This results in a total of 11.77 billion voting rights, which shareholders can use as a denominator for interest calculations under the Financial Conduct Authority’s rules. This update is crucial for stakeholders to understand their shareholding position and any necessary notifications regarding changes in their interest in the company.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £4.40 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced the purchase of 7.2 million of its own shares from UBS AG as part of its ongoing buy-back program. The transaction, conducted off-market, aims to reduce the total number of shares in issue, enhancing shareholder value and aligning with the company’s strategic financial management goals.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £4.40 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced the purchase of 9.6 million of its own shares from UBS AG as part of its ongoing buy-back program. This transaction, which is part of a strategy to manage share capital and enhance shareholder value, will result in the cancellation of the purchased shares, reducing the total number of shares in circulation.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £4.40 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore PLC announced the purchase of 9.6 million of its own shares from UBS AG as part of its ongoing buy-back programme. The shares were bought at a net price of CHF 2.5077 per share, with the transaction being part of a strategy to reduce the number of shares in circulation, thereby potentially increasing shareholder value. The buy-back programme, which began in July 2025, is expected to conclude by February 2026. This move is aligned with Glencore’s strategy to manage its equity exposure and optimize its capital structure.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £375.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced the purchase of 6.4 million of its ordinary shares from UBS AG as part of its ongoing share buyback program. This transaction, conducted off-market, is aimed at reducing the number of shares in circulation and is expected to be completed by February 2026, aligning with the company’s financial results release. The buyback is part of a strategic move to enhance shareholder value and manage equity exposure, with the shares purchased intended for cancellation.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £350.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore announced that as of October 31, 2025, its issued share capital consisted of 13,072,525,895 ordinary shares, with 11,804,416,854 shares carrying voting rights. This figure is crucial for shareholders to determine their notification requirements under the FCA’s rules. The announcement highlights Glencore’s transparency in shareholding and voting rights, which is significant for stakeholders monitoring changes in ownership and corporate governance.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £350.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced the purchase of 7.2 million of its ordinary shares from UBS AG as part of its ongoing buy-back program. The shares were bought for cancellation, reducing the total number of shares in issue to approximately 11.8 billion. This transaction is part of a broader strategy to manage the company’s capital structure and is expected to be completed by February 2026.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £350.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore reported a strong third-quarter production performance, particularly in copper and coal, maintaining its full-year 2025 production guidance for key commodities. Copper production increased by 36% quarter-on-quarter, with significant contributions from KCC, Mutanda, Antamina, and Antapaccay. Zinc production rose by 10% year-to-date, while steelmaking and energy coal volumes are expected to meet the upper ends of guidance ranges. The company also highlighted a strategic focus on prioritizing copper production in the DRC over cobalt due to export quotas, with plans to store excess cobalt production in-country. The completion of the Pasar copper smelter sale and the cessation of operations at the Mount Isa copper mine were also noted.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £4.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore reported a strong third quarter in 2025, particularly in copper and coal production, maintaining its full-year production guidance for key commodities. Copper production saw a significant increase of 36% quarter-on-quarter, driven by improved performance at several mines, while zinc production rose by 10% year-to-date. The company also highlighted a 123% rise in steelmaking coal production, attributed to the acquisition of EVR. Despite some declines in other areas like ferrochrome and nickel, Glencore remains confident in its marketing performance, expecting full-year adjusted EBIT to align with its long-term guidance range. The recent lifting of the cobalt export ban in the DRC, with new export quotas, will allow Glencore to prioritize copper production over cobalt, utilizing its inventory to meet quota allocations.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £4.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc has announced the purchase of 10.8 million of its own shares from UBS AG as part of its ongoing share buyback program. The transaction, which was conducted off-market, is part of a strategy to reduce the number of shares in issue and is expected to be completed by February 2026. This move is aligned with Glencore’s efforts to enhance shareholder value and optimize its capital structure, reflecting confidence in its financial health and future prospects.
The most recent analyst rating on (GB:GLEN) stock is a Hold with a £376.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced it will host a Capital Markets Day presentation on December 3, 2025, at 1 pm UK time, which will be accessible via a live webcast. This event is significant for stakeholders as it provides insights into Glencore’s strategic direction and operational plans, potentially impacting its market positioning and investor relations.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £385.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore PLC has announced the purchase of 10.8 million of its ordinary shares from UBS AG as part of its ongoing share buy-back program. The transaction, which was conducted off-market, aims to cancel the purchased shares, thereby reducing the total number of shares in issue and potentially enhancing shareholder value. This buy-back initiative, which began in July 2025, is expected to conclude by February 2026, aligning with the company’s financial results announcement. The purchase was executed in Swiss francs, with Swiss withholding tax deducted, and is part of a broader strategy to manage equity exposure and optimize capital structure.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £385.00 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.
Glencore plc announced the purchase of 10.8 million of its own shares from UBS AG as part of its ongoing share buy-back program. The shares were purchased at a net price of CHF 2.4803 each, with the transaction aimed at reducing the number of shares in circulation and enhancing shareholder value. This buy-back initiative, which began in July 2025, is expected to conclude by February 2026, aligning with the release of the company’s financial results. The transaction reflects Glencore’s strategic focus on optimizing its capital structure and underscores its commitment to returning value to shareholders.
The most recent analyst rating on (GB:GLEN) stock is a Buy with a £4.30 price target. To see the full list of analyst forecasts on Glencore stock, see the GB:GLEN Stock Forecast page.